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Re-rating of Chartered

Chartered closed about 4 % up over US yesterday. Hope another strong rebound next week to push it up above 0.34 resistance for a  breakout...

 

ML said in 10 Feb report that  “logic IC inventory should peak in Q1, but should decline sharply in Q2 which likely positions the sector for a Q3 recovery.” When was the last time ML is so Bullish on Chartered...

 

maybe pump and dump is at play? give it a 1 more quarter and see if the rise is sustainable...

With regards to Chartered and the manufacturing industry, I would say that the worse has yet to be. Demand is sagging and inventory is bursting to the seams.

I am not sure this is relevant, but i do believe that there will be more layoffs in the next three months at least within the manufacturing sector, because CNY just ended.

 

How interesting ! MLynch analyst turned bullish on the contract semiconductor manufacturing sector, asserting that a bottom to the current cycle is in sight. It also upgraded Chartered to Buy in 10 Feb 09 report. Is that why the big upswing .....

 

Electronics is one of the worst sector because consumer usually stop buying electronic items first.

iPhone and PC can wait.

Many big names in electronic components maker have belly up recently without you knowing.

DRAM & Flash spot price has collapsed.

If you have notice, Singtel are giving away free MicroSD card....it is that cheap.

CHRT will probably stop buying less critical equipment to save cost.

rabbitfoot      ( Date: 11-Feb-2009 16:38) Posted: After reading Chartered CEO's interview in the Edge last week, you may get a different perspective after the slew of bad news on this company by the analysts. It seems that Chartered's financial position is rather good amidst the current financial gloom....

 

The proof is in the pudding. 

Let me see a few quarters of black ink profit first. 

 

well i would caution against being too optimistic. One thing, whether they are paying to be interviewed (a feature) or have accepted an interview with any publication, they are very unlikely to say anything negative about the company

 

After reading Chartered CEO's interview in the Edge last week, you may get a different perspective after the slew of bad news on this company by the analysts. It seems that Chartered's financial position is rather good amidst the current financial gloom....